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Comment from IGF Invoice Finance on SMEs and the Emergency Budget PDF Print E-mail
Wednesday, 08 July 2015

Tracy Ewen, managing director of IGF Invoice Finance, comments on the Emergency Budget and its impact on SMEs: 

“Any guarantee from the government committing to a policy that will give SMEs the confidence to invest in growth projects must be applauded. By permanently setting the Annual Investment Allowance at £200,000, SMEs don’t need to worry about the repercussions of spending on plant or machinery that will help their business grow. With research we have conducted revealing that nearly half of SME owners always feel nervous about borrowing, this policy will hopefully have a positive impact on both local economies and the national economy as a whole.
“However, with the allowance set well below the £600,000 that the Institute of Directors had called for, it remains as important as ever that SMEs are made aware of all the funding options available to them. For example, we recently spoke to an engineering firm that did not know that invoice finance could provide the cash it needed to invest in new machinery so that it could meet a number of large new orders.
“With this in mind, combining support from the government with schemes to improve awareness of finance options will give SMEs the platform from which they can really grow and flourish.”

(Source -  IGF Invoice Finance Comment)


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